The recently released ICSID Caseload Statistics1 and the prevailing investment dispute climate highlight interesting developments concerning Nigeria and the entire Sub-Saharan region.
First, within the period under review,2 the Sub-Saharan African States generally experienced rising investment dispute claims—a 100% surge in the number of ICSID cases3—and the reasons for the huge increase are nuanced
Second, the ICSID framework remains a veritable tool for foreign investors to hedge their exposure against States, including the Sub-Saharan African States
Third, while Sub-Sahara African arbitrators remain underrepresented on the ICSID tribunals, more Sub-Saharan African arbitrators were appointed, compared to previous years.
In the ensuing paragraphs, this note examines these developments and their implications for Sub-Sahara African States, including Nigeria, the foreign investors doing business in the region and the investment arbitration community at large.
